Jenkongklai Public Company Limited Makes Strong Debut on the Stock Exchange
JPARK Enters Trading with 27.89% Surge from IPO Price
Jenkongklai Public Company Limited, known as JPARK, made an impressive start on the Alternative Investment Market (May) as its shares opened at 4.86 baht, marking a substantial 27.89% increase from the initial public offering (IPO) price of 3.80 baht. Industry experts believe that this surge reflects investors’ recognition of the company’s potential for future growth.
Ambitious Growth Targets Set for 2023
JPARK has set a target to achieve a 15-25% increase in income by 2023, leveraging its consulting and parking service businesses for support. The company is also gearing up to expand its hospital parking project, with one project expected to be completed within this year.
Mr. Santiphon Jenwattanapaisan, CEO of JPARK, expressed his satisfaction with the strong opening price on the stock exchange, attributing it to investors’ positive response and their recognition of the company’s growth prospects.
Investing in Phranangklao Hospital Parking Construction Project
The funds raised from the IPO will be utilized for investment in the expansion of the Phranangklao Hospital parking construction project. With a total investment value not exceeding 300 million baht, the project will accommodate 532 cars and 72 motorcycles across six floors. The usable area will span 18,242 square meters, including an additional 2,049 square meters for commercial purposes. The company will also allocate a portion of the funds as working capital for its business operations.
The Phra Nang Klao Hospital parking construction project, which is currently under development, is projected to break even in approximately seven years. The service is scheduled to open towards the end of July, benefiting the company’s performance in 2024.
Positive Growth Outlook for 2023
JPARK expects its business operations to continue growing in the second half of 2023. This growth will be driven by income generated from consulting services and the installation of parking management systems (CIPS), as well as revenue from the parking service business (PS). The company anticipates recognizing this income every two months, thus contributing to its overall performance in line with the target growth of 15-25%. The gross profit margin is projected to range between 20-25%, while the net profit margin is estimated to be around 12-15%.
Opportunities for Expansion in Government Hospital Group
JPARK also identifies an opportunity to expand its parking projects within the government hospital group. Many of these hospitals lack the necessary budget to build their own parking facilities. Prominent hospitals such as Siriraj Hospital, Golden Jubilee Medical Center, Phramongkutklao Hospital, Bhumibol Adulyadej Hospital, Rajavithi Hospital, and Chulalongkorn Hospital are potential candidates for such projects. The company expects to complete at least one hospital parking construction project this year, with a larger number of parking spaces than the Phranangklao Hospital building.
JPARK entered the first day of trading on the Alternative Investment Market (May), opening at 4.86 baht, an increase of 27.89% from the IPO price of 3.80 baht. Executives believe that investors see the potential of the business. Set a target for 2023 income to grow 15-25%, receiving income from consulting business – parking service business as support. Preparing to expand the hospital parking project. 1 project is expected to be completed within this year.
Mr revealed Santiphon Jenwattanapaisan, CEO of Jenkongklai Public Company Limited or JPARK, that he is satisfied with the opening price of the first day of trading on the stock exchange, seeing that investors are responding well. Because they see potential and opportunities for future growth.
The money received from fundraising this time The company will use it to invest in the expansion of Phranangklao Hospital parking construction project, 6 floors, total investment value not exceeding 300 million baht, able to accommodate 532 cars and 72 motorcycles, with a usable area of 18,242 square meters and an additional commercial 2,049 square meters, including its use as working capital for business operations
The Phra Nang Klao Hospital parking construction project is expected to break even in about 7 years, and is currently under construction. It is expected that the service will be open towards the end of July. Until the beginning of August. 2023 helps support an excellent performance in 2024.
In terms of business operations trends in 2023, the company expects that the second half of the year will continue to grow. From recognizing income in consulting and installing parking management systems (CIPS) as well as the parking service business (PS), which will recognize this income every 2 months, helping to support the picture. Overall in 2023, the company grew in line with the set target of 15-25%, while the gross profit margin was at the level of 20-25% and the net profit margin was at the level of 12-15%.
In addition, the company sees an opportunity to expand the parking project in the government hospital group. that do not have sufficient budget to build their own parking spaces, such as Siriraj Hospital, Golden Jubilee Medical Center, Phramongkutklao Hospital, Bhumibol Adulyadej Hospital, Rajavithi Hospital and Chulalongkorn Hospital, etc. It is expected that at least one hospital parking construction project will have be completed this year. To begin with, the number of parking spaces should be larger than the Phranangklao Hospital building.
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